Gary Gensler

There is this tremendous amount of bad actors in the field as well, a lot of them offshore preying upon U.S. investors.

We are a disclosure-based regime, and so when the investing public is anticipating profits based on the efforts of others, it is best that those others, you know, give full, fair, and truthful disclosure.

If this committee were to see fit, and want us to have more resources, we could use them.

We do not need more digital currency. We already have digital currency. It is called the U.S. dollar. It is called the euro. It is called the yuan.

There are some gaps in this space. We need additional congressional authorities to prevent transactions, products, and platforms from falling between regulatory cracks.

when the President was formulating his financial reform proposals, he placed tremendous confidence in this small agency, which for 8 decades had overseen the futures market. This confidence in the CFTC was well placed.

I believe we need to bring stablecoin activity within the Federal regulatory perimeter rather than attempt to keep it outside.

Our markets are the finest in the world.

I think we do. We could use more resources, but I do think we have the authorities.

I think that we benefit in this country by the markets and small businesses being able to raise capital in a well-regulated market.

There is risk in both sectors. There is risk in the decentralized, and there is risk in the centralized.

Yes, I do believe that we have the authorities we need and the laws to protect the investors.

I am a firm believer in congressional oversight.

I believe in congressional oversight and----

I don't trust industry participants to provide honest feedback.

I have never seen a field that is so noncompliant with laws written by Congress.

If you want to raise money in the U.S. public markets, then you have to follow accounting standards that properly account for your liabilities.

It puts a dose of uncertainty into markets, but it becomes particularly problematic the closer one might get to whatever deadline that is.

The SEC has never affirmatively stated that any other popularly traded digital asset is not a security, and senior officials have often expressed the view that the 'vast majority' of digital assets are in fact securities.

It would undermine the base of our capital markets, U.S. Treasuries, or the risk-free part of our capital markets.

I think a lot of our agenda at the SEC is about ensuring that we go as many years, as many decades as possible that we have the best capital markets.

Retail investors have greater access to markets than at any time in the past.

I thought at the time that there was a risk of correlation.

I was not supportive of that legislative initiative back in 2018.

I think it is. And I think, to the chair's question, it is about capital formation and investors because investor protection means more people are confident in a market.